BSL Ltd.

•

₹ 122.230.58%

2026-08-21

bslltd.comBSE: 514045NSE: BSL

Market Cap₹ 125 Cr.

Current Price₹ 122

High / Low₹ 208 / 98

Stock P/E0.0

Book Value₹ 118

Price to Book0.89

Dividend Yield0.00 %

ROCE6.0 %

ROE2.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2021 • Textile: 99.7% • Wind Power: 0.3%

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.08x)
Company has delivered good sales growth of 15.4% CAGR over last 5 years
Working capital cycle has improved - days down from 16 to 10
Company generates healthy free cash flow

CONS

Company has a high debt-to-equity of 3.66x
Recent results are weak - TTM profit is down 14.8% versus prior year
Company has a low return on capital employed of 7.8%
Company has a low return on equity of 6.5% over last 3 years
Interest coverage is weak at 1.1x - earnings barely cover interest
A large part of profit comes from other income (25.6% of PBT)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

TextilesTextileTextile - Weaving

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	SIYSIL	647.80	12.39	2939.07	2.47	11.01	137.31	445.66	14.42	20.46	4.05
2.	VTMLTD	46.05	0.00	463.12	0.00	19.32	319.54	984.04	1266.97	4.55	5.92
3.	MANOMAY	211.20	0.00	381.19	0.00	4.95	11.28	197.51	20.48	12.74	10.01
4.	VGL	57.01	0.00	293.76	0.00	78.81	—	1179.33	—	21.49	14.91
5.	JASCHIND	290.00	8.76	197.14	0.00	5.07	-4.97	59.32	-3.79	19.22	11.43
6.	BSL	121.10	0.00	124.64	0.00	1.72	266.38	169.72	7.41	6.01	8.42
7.	KGDENIM	14.01	3.17	35.92	0.00	8.44	359.69	4.86	-64.71	-7.29	-86.21

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	160	179	171	156	164	178	170	156	158	184	167	148	170
	145	163	153	140	148	162	154	143	146	171	154	138	168
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	0	0	0	0	1	0	0	0	0	0	0	0	0
Interest	7	8	8	9	8	8	8	8	8	8	7	8	8
Depreciation	5	5	4	4	4	5	4	4	4	4	4	4	5
	3	4	5	3	3	3	4	0	1	2	2	-1	2
Tax %	29.94%	29.41%	23.59%	15.72%	28.26%	24.78%	22.59%	-33.33%	19.30%	16.50%	23.38%	31.72%	21.19%
Net Profit	2	3	4	3	2	3	3	0	0	2	1	-1	2
	2	2	4	2	2	2	3	0	0	2	1	-1	0
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 160
: 145
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 7
Depreciation: 5
: 3
Tax %: 29.94%
Net Profit: 2
: 2
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 179
: 163
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 5
: 4
Tax %: 29.41%
Net Profit: 3
: 2
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 171
: 153
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 4
: 5
Tax %: 23.59%
Net Profit: 4
: 4
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 156
: 140
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 9
Depreciation: 4
: 3
Tax %: 15.72%
Net Profit: 3
: 2
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 164
: 148
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 8
Depreciation: 4
: 3
Tax %: 28.26%
Net Profit: 2
: 2
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 178
: 162
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 5
: 3
Tax %: 24.78%
Net Profit: 3
: 2
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 170
: 154
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 4
: 4
Tax %: 22.59%
Net Profit: 3
: 3
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 156
: 143
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 4
: 0
Tax %: -33.33%
Net Profit: 0
: 0
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 158
: 146
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 4
: 1
Tax %: 19.30%
Net Profit: 0
: 0
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 184
: 171
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 4
: 2
Tax %: 16.50%
Net Profit: 2
: 2
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 167
: 154
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 7
Depreciation: 4
: 2
Tax %: 23.38%
Net Profit: 1
: 1
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 148
: 138
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 4
: -1
Tax %: 31.72%
Net Profit: -1
: -1
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 170
: 168
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 8
Depreciation: 5
: 2
Tax %: 21.19%
Net Profit: 2
: 0
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 10
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	440	403	437	390	321	436	472	666	667	657	669
	404	373	407	361	293	396	418	601	607	608	630
Operating Profit	40	33	35	31	30	41	54	66	60	50	—
OPM %	9	8	8	8	9	10	12	10	9	8	—
Other Income	4	3	4	2	1	2	1	1	1	1	0
Interest	15	14	18	18	17	14	19	33	32	30	30
Depreciation	16	17	16	13	12	12	11	18	18	17	17
	9	2	1	-1	1	16	23	15	11	3	4
Tax %	35	41	25	292	-10	28	25	25	24	13	16
Net Profit	6	1	1	2	1	11	17	11	8	2	4
EPS	0	0	0	0	1	11	16	11	8	2	—
Dividend Payout %	21	100	0	0	0	11	9	9	10	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	6	1	1	2	1	11	16	11	8	2	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	6	1	1	2	1	11	16	11	8	2	—

Mar 2017

: 440
: 404
Operating Profit: 40
OPM %: 9
Other Income: 4
Interest: 15
Depreciation: 16
: 9
Tax %: 35
Net Profit: 6
EPS: 0
Dividend Payout %: 21
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2018

: 403
: 373
Operating Profit: 33
OPM %: 8
Other Income: 3
Interest: 14
Depreciation: 17
: 2
Tax %: 41
Net Profit: 1
EPS: 0
Dividend Payout %: 100
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2019

: 437
: 407
Operating Profit: 35
OPM %: 8
Other Income: 4
Interest: 18
Depreciation: 16
: 1
Tax %: 25
Net Profit: 1
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2020

: 390
: 361
Operating Profit: 31
OPM %: 8
Other Income: 2
Interest: 18
Depreciation: 13
: -1
Tax %: 292
Net Profit: 2
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2021

: 321
: 293
Operating Profit: 30
OPM %: 9
Other Income: 1
Interest: 17
Depreciation: 12
: 1
Tax %: -10
Net Profit: 1
EPS: 1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2022

: 436
: 396
Operating Profit: 41
OPM %: 10
Other Income: 2
Interest: 14
Depreciation: 12
: 16
Tax %: 28
Net Profit: 11
EPS: 11
Dividend Payout %: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

Mar 2023

: 472
: 418
Operating Profit: 54
OPM %: 12
Other Income: 1
Interest: 19
Depreciation: 11
: 23
Tax %: 25
Net Profit: 17
EPS: 16
Dividend Payout %: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16

Mar 2024

: 666
: 601
Operating Profit: 66
OPM %: 10
Other Income: 1
Interest: 33
Depreciation: 18
: 15
Tax %: 25
Net Profit: 11
EPS: 11
Dividend Payout %: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

Mar 2025

: 667
: 607
Operating Profit: 60
OPM %: 9
Other Income: 1
Interest: 32
Depreciation: 18
: 11
Tax %: 24
Net Profit: 8
EPS: 8
Dividend Payout %: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2026

: 657
: 608
Operating Profit: 50
OPM %: 8
Other Income: 1
Interest: 30
Depreciation: 17
: 3
Tax %: 13
Net Profit: 2
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

TTM

: 669
: 630
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 30
Depreciation: 17
: 4
Tax %: 16
Net Profit: 4
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 15%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: -10%
5 Years:: 12%
3 Years:: -48%

STOCK PRICE CAGR

10 Years:: 7%
5 Years:: 15%
3 Years:: -8%
1 Year:: -26%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 10%
3 Years:: 6%
Last Year:: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	10	10	10	10	10	10	10	10	10	10
	69	67	66	65	68	79	94	102	109	110
	115	117	143	139	129	141	186	265	255	276
Trade Payables	39	50	48	53	21	48	46	25	45	38
	97	93	60	55	62	81	205	215	207	206
Total Liabilities	330	337	328	322	290	359	542	618	627	640
ASSETS	-	-	-	-	-	-	-	-	-	-
	111	115	100	89	78	74	229	231	219	231
Capital Work in Progress	4	1	1	0	0	6	0	0	6	17
	102	116	118	139	116	141	185	210	240	222
	0	0	0	0	0	0	0	144	131	143
Cash & Bank	1	1	0	1	0	1	1	0	0	0
	113	106	108	93	95	136	127	32	30	28
Total Assets	330	337	328	322	290	359	542	618	627	640
Total Debt	177	175	172	161	161	186	346	437	421	439
Net Working Capital	19	18	16	14	37	46	38	39	36	22
Contingent Liabilities	5	1	2	1	1	1	0	1	3	1
Book Value per Share	76.79	75.48	74.57	72.92	76.06	86.77	101.12	109.48	115.88	116.51
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	177	175	172	161	161	186	346	437	421	439
Net Working Capital	19	18	16	14	37	46	38	39	36	22
Contingent Liabilities	5	1	2	1	1	1	0	1	3	1
Book Value per Share	76.79	75.48	74.57	72.92	76.06	86.77	101.12	109.48	115.88	116.51
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2017

Equity Capital: 10
: 69
: 115
Trade Payables: 39
: 97
Total Liabilities: 330
: 111
Capital Work in Progress: 4
: 102
: 0
Cash & Bank: 1
: 113
Total Assets: 330
Total Debt: 177
Net Working Capital: 19
Contingent Liabilities: 5
Book Value per Share: 76.79
Face Value: 10.00
Total Debt: 177
Net Working Capital: 19
Contingent Liabilities: 5
Book Value per Share: 76.79
Face Value: 10.00

Mar 2018

Equity Capital: 10
: 67
: 117
Trade Payables: 50
: 93
Total Liabilities: 337
: 115
Capital Work in Progress: 1
: 116
: 0
Cash & Bank: 1
: 106
Total Assets: 337
Total Debt: 175
Net Working Capital: 18
Contingent Liabilities: 1
Book Value per Share: 75.48
Face Value: 10.00
Total Debt: 175
Net Working Capital: 18
Contingent Liabilities: 1
Book Value per Share: 75.48
Face Value: 10.00

Mar 2019

Equity Capital: 10
: 66
: 143
Trade Payables: 48
: 60
Total Liabilities: 328
: 100
Capital Work in Progress: 1
: 118
: 0
Cash & Bank: 0
: 108
Total Assets: 328
Total Debt: 172
Net Working Capital: 16
Contingent Liabilities: 2
Book Value per Share: 74.57
Face Value: 10.00
Total Debt: 172
Net Working Capital: 16
Contingent Liabilities: 2
Book Value per Share: 74.57
Face Value: 10.00

Mar 2020

Equity Capital: 10
: 65
: 139
Trade Payables: 53
: 55
Total Liabilities: 322
: 89
Capital Work in Progress: 0
: 139
: 0
Cash & Bank: 1
: 93
Total Assets: 322
Total Debt: 161
Net Working Capital: 14
Contingent Liabilities: 1
Book Value per Share: 72.92
Face Value: 10.00
Total Debt: 161
Net Working Capital: 14
Contingent Liabilities: 1
Book Value per Share: 72.92
Face Value: 10.00

Mar 2021

Equity Capital: 10
: 68
: 129
Trade Payables: 21
: 62
Total Liabilities: 290
: 78
Capital Work in Progress: 0
: 116
: 0
Cash & Bank: 0
: 95
Total Assets: 290
Total Debt: 161
Net Working Capital: 37
Contingent Liabilities: 1
Book Value per Share: 76.06
Face Value: 10.00
Total Debt: 161
Net Working Capital: 37
Contingent Liabilities: 1
Book Value per Share: 76.06
Face Value: 10.00

Mar 2022

Equity Capital: 10
: 79
: 141
Trade Payables: 48
: 81
Total Liabilities: 359
: 74
Capital Work in Progress: 6
: 141
: 0
Cash & Bank: 1
: 136
Total Assets: 359
Total Debt: 186
Net Working Capital: 46
Contingent Liabilities: 1
Book Value per Share: 86.77
Face Value: 10.00
Total Debt: 186
Net Working Capital: 46
Contingent Liabilities: 1
Book Value per Share: 86.77
Face Value: 10.00

Mar 2023

Equity Capital: 10
: 94
: 186
Trade Payables: 46
: 205
Total Liabilities: 542
: 229
Capital Work in Progress: 0
: 185
: 0
Cash & Bank: 1
: 127
Total Assets: 542
Total Debt: 346
Net Working Capital: 38
Contingent Liabilities: 0
Book Value per Share: 101.12
Face Value: 10.00
Total Debt: 346
Net Working Capital: 38
Contingent Liabilities: 0
Book Value per Share: 101.12
Face Value: 10.00

Mar 2024

Equity Capital: 10
: 102
: 265
Trade Payables: 25
: 215
Total Liabilities: 618
: 231
Capital Work in Progress: 0
: 210
: 144
Cash & Bank: 0
: 32
Total Assets: 618
Total Debt: 437
Net Working Capital: 39
Contingent Liabilities: 1
Book Value per Share: 109.48
Face Value: 10.00
Total Debt: 437
Net Working Capital: 39
Contingent Liabilities: 1
Book Value per Share: 109.48
Face Value: 10.00

Mar 2025

Equity Capital: 10
: 109
: 255
Trade Payables: 45
: 207
Total Liabilities: 627
: 219
Capital Work in Progress: 6
: 240
: 131
Cash & Bank: 0
: 30
Total Assets: 627
Total Debt: 421
Net Working Capital: 36
Contingent Liabilities: 3
Book Value per Share: 115.88
Face Value: 10.00
Total Debt: 421
Net Working Capital: 36
Contingent Liabilities: 3
Book Value per Share: 115.88
Face Value: 10.00

Mar 2026

Equity Capital: 10
: 110
: 276
Trade Payables: 38
: 206
Total Liabilities: 640
: 231
Capital Work in Progress: 17
: 222
: 143
Cash & Bank: 0
: 28
Total Assets: 640
Total Debt: 439
Net Working Capital: 22
Contingent Liabilities: 1
Book Value per Share: 116.51
Face Value: 10.00
Total Debt: 439
Net Working Capital: 22
Contingent Liabilities: 1
Book Value per Share: 116.51
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	37	20	29	17	3	19	-39	57	49
Cash from Investing	-24	-17	-0	-2	-1	-15	-160	-20	-11	-39
Cash from Financing	13	-21	-20	-27	-15	13	141	60	-46	-10
	0	-0	-0	0	-0	0	-0	-0	-0	0
Free Cash Flow	11	19	18	28	16	-11	-134	-60	46	11
OCF / Net Profit	1.85	36.39	23.14	17.20	12.18	0.22	1.11	-3.51	6.99	20.80
Cumulative 5-Year FCF	0	0	0	0	92	70	-83	-161	-143	-148
OCF / Net Profit	1.85	36.39	23.14	17.20	12.18	0.22	1.11	-3.51	6.99	20.80
Cumulative 5-Year FCF	0	0	0	0	92	70	-83	-161	-143	-148

Mar 2017

: 11
Cash from Investing: -24
Cash from Financing: 13
: 0
Free Cash Flow: 11
OCF / Net Profit: 1.85
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.85
Cumulative 5-Year FCF: 0

Mar 2018

: 37
Cash from Investing: -17
Cash from Financing: -21
: -0
Free Cash Flow: 19
OCF / Net Profit: 36.39
Cumulative 5-Year FCF: 0
OCF / Net Profit: 36.39
Cumulative 5-Year FCF: 0

Mar 2019

: 20
Cash from Investing: -0
Cash from Financing: -20
: -0
Free Cash Flow: 18
OCF / Net Profit: 23.14
Cumulative 5-Year FCF: 0
OCF / Net Profit: 23.14
Cumulative 5-Year FCF: 0

Mar 2020

: 29
Cash from Investing: -2
Cash from Financing: -27
: 0
Free Cash Flow: 28
OCF / Net Profit: 17.20
Cumulative 5-Year FCF: 0
OCF / Net Profit: 17.20
Cumulative 5-Year FCF: 0

Mar 2021

: 17
Cash from Investing: -1
Cash from Financing: -15
: -0
Free Cash Flow: 16
OCF / Net Profit: 12.18
Cumulative 5-Year FCF: 92
OCF / Net Profit: 12.18
Cumulative 5-Year FCF: 92

Mar 2022

: 3
Cash from Investing: -15
Cash from Financing: 13
: 0
Free Cash Flow: -11
OCF / Net Profit: 0.22
Cumulative 5-Year FCF: 70
OCF / Net Profit: 0.22
Cumulative 5-Year FCF: 70

Mar 2023

: 19
Cash from Investing: -160
Cash from Financing: 141
: -0
Free Cash Flow: -134
OCF / Net Profit: 1.11
Cumulative 5-Year FCF: -83
OCF / Net Profit: 1.11
Cumulative 5-Year FCF: -83

Mar 2024

: -39
Cash from Investing: -20
Cash from Financing: 60
: -0
Free Cash Flow: -60
OCF / Net Profit: -3.51
Cumulative 5-Year FCF: -161
OCF / Net Profit: -3.51
Cumulative 5-Year FCF: -161

Mar 2025

: 57
Cash from Investing: -11
Cash from Financing: -46
: -0
Free Cash Flow: 46
OCF / Net Profit: 6.99
Cumulative 5-Year FCF: -143
OCF / Net Profit: 6.99
Cumulative 5-Year FCF: -143

Mar 2026

: 49
Cash from Investing: -39
Cash from Financing: -10
: 0
Free Cash Flow: 11
OCF / Net Profit: 20.80
Cumulative 5-Year FCF: -148
OCF / Net Profit: 20.80
Cumulative 5-Year FCF: -148

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	5.76	1.00	0.85	1.62	1.32	11.15	16.43	10.91	7.93	2.31
Book Value (₹)	76.79	75.48	74.57	72.92	76.06	86.77	101.12	109.48	115.88	116.51
Dividend per Share (₹)	1.20	1.00	0.00	0.00	0.00	1.20	1.50	1.00	0.80	0.00
Cash EPS (₹)	21.22	17.55	16.42	14.31	13.14	22.34	26.98	28.65	25.21	18.62
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	7.23%	6.27%	5.97%	5.83%	7.23%	7.33%	8.63%	8.02%	7.40%	6.20%
Net Margin %	1.08%	0.20%	0.15%	0.32%	0.33%	2.03%	2.68%	1.38%	1.01%	0.30%
ROE %	7.78%	1.31%	1.13%	2.19%	1.77%	13.70%	17.49%	10.36%	7.03%	1.99%
ROCE %	10.10%	6.18%	7.45%	7.23%	7.56%	11.62%	11.41%	9.54%	7.80%	6.01%
	2.02%	0.31%	0.26%	0.51%	0.44%	3.54%	3.75%	1.94%	1.31%	0.38%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	49	61	54	53	61	51	54	54	62	63
Inventory Days	57	76	74	90	112	83	95	89	102	107
Payable Days	40	79	78	96	87	59	77	35	34	40
	66	58	49	47	86	76	72	108	130	129
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	2.24x	2.25x	2.24x	2.15x	2.06x	2.08x	3.32x	3.88x	3.53x	3.66x
Interest Coverage (x)	1.62x	1.13x	1.07x	0.95x	1.07x	2.15x	2.20x	1.46x	1.34x	1.09x
	1.10x	1.09x	1.07x	1.07x	1.21x	1.21x	1.14x	1.11x	1.10x	1.06x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	16.29%	-8.46%	8.60%	-10.81%	-17.59%	35.59%	8.24%	41.27%	0.09%	-1.50%
Operating Profit Growth %	0.62%	-17.25%	5.96%	-11.73%	-1.43%	37.30%	31.29%	21.26%	-8.55%	-17.38%
Net Profit Growth %	-16.78%	-82.66%	-15.08%	90.66%	-18.30%	744.77%	47.31%	-33.57%	-27.38%	-70.87%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-33.57%	-27.38%	-70.87%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	15.01x	21.38x	44.81x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.50x	1.46x	0.89x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.61%	0.47%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	9.18x	9.87x	10.95x

Mar 2017

EPS (₹): 5.76
Book Value (₹): 76.79
Dividend per Share (₹): 1.20
Cash EPS (₹): 21.22
Operating Margin %: 7.23%
Net Margin %: 1.08%
ROE %: 7.78%
ROCE %: 10.10%
: 2.02%
Debtor Days: 49
Inventory Days: 57
Payable Days: 40
: 66
Debt to Equity (x): 2.24x
Interest Coverage (x): 1.62x
: 1.10x
Revenue Growth %: 16.29%
Operating Profit Growth %: 0.62%
Net Profit Growth %: -16.78%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 1.00
Book Value (₹): 75.48
Dividend per Share (₹): 1.00
Cash EPS (₹): 17.55
Operating Margin %: 6.27%
Net Margin %: 0.20%
ROE %: 1.31%
ROCE %: 6.18%
: 0.31%
Debtor Days: 61
Inventory Days: 76
Payable Days: 79
: 58
Debt to Equity (x): 2.25x
Interest Coverage (x): 1.13x
: 1.09x
Revenue Growth %: -8.46%
Operating Profit Growth %: -17.25%
Net Profit Growth %: -82.66%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 0.85
Book Value (₹): 74.57
Dividend per Share (₹): 0.00
Cash EPS (₹): 16.42
Operating Margin %: 5.97%
Net Margin %: 0.15%
ROE %: 1.13%
ROCE %: 7.45%
: 0.26%
Debtor Days: 54
Inventory Days: 74
Payable Days: 78
: 49
Debt to Equity (x): 2.24x
Interest Coverage (x): 1.07x
: 1.07x
Revenue Growth %: 8.60%
Operating Profit Growth %: 5.96%
Net Profit Growth %: -15.08%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 1.62
Book Value (₹): 72.92
Dividend per Share (₹): 0.00
Cash EPS (₹): 14.31
Operating Margin %: 5.83%
Net Margin %: 0.32%
ROE %: 2.19%
ROCE %: 7.23%
: 0.51%
Debtor Days: 53
Inventory Days: 90
Payable Days: 96
: 47
Debt to Equity (x): 2.15x
Interest Coverage (x): 0.95x
: 1.07x
Revenue Growth %: -10.81%
Operating Profit Growth %: -11.73%
Net Profit Growth %: 90.66%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 1.32
Book Value (₹): 76.06
Dividend per Share (₹): 0.00
Cash EPS (₹): 13.14
Operating Margin %: 7.23%
Net Margin %: 0.33%
ROE %: 1.77%
ROCE %: 7.56%
: 0.44%
Debtor Days: 61
Inventory Days: 112
Payable Days: 87
: 86
Debt to Equity (x): 2.06x
Interest Coverage (x): 1.07x
: 1.21x
Revenue Growth %: -17.59%
Operating Profit Growth %: -1.43%
Net Profit Growth %: -18.30%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 11.15
Book Value (₹): 86.77
Dividend per Share (₹): 1.20
Cash EPS (₹): 22.34
Operating Margin %: 7.33%
Net Margin %: 2.03%
ROE %: 13.70%
ROCE %: 11.62%
: 3.54%
Debtor Days: 51
Inventory Days: 83
Payable Days: 59
: 76
Debt to Equity (x): 2.08x
Interest Coverage (x): 2.15x
: 1.21x
Revenue Growth %: 35.59%
Operating Profit Growth %: 37.30%
Net Profit Growth %: 744.77%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 16.43
Book Value (₹): 101.12
Dividend per Share (₹): 1.50
Cash EPS (₹): 26.98
Operating Margin %: 8.63%
Net Margin %: 2.68%
ROE %: 17.49%
ROCE %: 11.41%
: 3.75%
Debtor Days: 54
Inventory Days: 95
Payable Days: 77
: 72
Debt to Equity (x): 3.32x
Interest Coverage (x): 2.20x
: 1.14x
Revenue Growth %: 8.24%
Operating Profit Growth %: 31.29%
Net Profit Growth %: 47.31%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 10.91
Book Value (₹): 109.48
Dividend per Share (₹): 1.00
Cash EPS (₹): 28.65
Operating Margin %: 8.02%
Net Margin %: 1.38%
ROE %: 10.36%
ROCE %: 9.54%
: 1.94%
Debtor Days: 54
Inventory Days: 89
Payable Days: 35
: 108
Debt to Equity (x): 3.88x
Interest Coverage (x): 1.46x
: 1.11x
Revenue Growth %: 41.27%
Operating Profit Growth %: 21.26%
Net Profit Growth %: -33.57%
: -33.57%
P/E (x): 15.01x
P/B (x): 1.50x
Dividend Yield %: 0.61%
: 9.18x

Mar 2025

EPS (₹): 7.93
Book Value (₹): 115.88
Dividend per Share (₹): 0.80
Cash EPS (₹): 25.21
Operating Margin %: 7.40%
Net Margin %: 1.01%
ROE %: 7.03%
ROCE %: 7.80%
: 1.31%
Debtor Days: 62
Inventory Days: 102
Payable Days: 34
: 130
Debt to Equity (x): 3.53x
Interest Coverage (x): 1.34x
: 1.10x
Revenue Growth %: 0.09%
Operating Profit Growth %: -8.55%
Net Profit Growth %: -27.38%
: -27.38%
P/E (x): 21.38x
P/B (x): 1.46x
Dividend Yield %: 0.47%
: 9.87x

Mar 2026

EPS (₹): 2.31
Book Value (₹): 116.51
Dividend per Share (₹): 0.00
Cash EPS (₹): 18.62
Operating Margin %: 6.20%
Net Margin %: 0.30%
ROE %: 1.99%
ROCE %: 6.01%
: 0.38%
Debtor Days: 63
Inventory Days: 107
Payable Days: 40
: 129
Debt to Equity (x): 3.66x
Interest Coverage (x): 1.09x
: 1.06x
Revenue Growth %: -1.50%
Operating Profit Growth %: -17.38%
Net Profit Growth %: -70.87%
: -70.87%
P/E (x): 44.81x
P/B (x): 0.89x
Dividend Yield %: 0.00%
: 10.95x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56.71	56.71	56.71	56.72	56.72	56.72	56.72	56.72	56.72
	0.00	0.03	0.16	0.02	0.02	0.00	0.02	0.00	0.00
	2.30	1.97	1.36	1.36	1.36	1.36	1.36	1.36	1.36
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	40.99	41.28	41.77	41.90	41.90	41.92	41.90	41.92	41.92

Jun 2024

: 56.71
: 0.00
: 2.30
Government: 0.00
: 40.99

Sep 2024

: 56.71
: 0.03
: 1.97
Government: 0.00
: 41.28

Dec 2024

: 56.71
: 0.16
: 1.36
Government: 0.00
: 41.77

Mar 2025

: 56.72
: 0.02
: 1.36
Government: 0.00
: 41.90

Jun 2025

: 56.72
: 0.02
: 1.36
Government: 0.00
: 41.90

Sep 2025

: 56.72
: 0.00
: 1.36
Government: 0.00
: 41.92

Dec 2025

: 56.72
: 0.02
: 1.36
Government: 0.00
: 41.90

Mar 2026

: 56.72
: 0.00
: 1.36
Government: 0.00
: 41.92

Jun 2026

: 56.72
: 0.00
: 1.36
Government: 0.00
: 41.92

Documents

Announcements

Updates
2026-08-19 - BSL Limited has informed the Exchange regarding 'Re-lodgement of Transfer Requests of Physical Shares'.
General Updates
2026-08-14 - BSL Limited has informed the Exchange about General Updates

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
TranscriptPPTREC
May 2026
TranscriptPPTREC
Feb 2026
TranscriptPPTREC